Essex Financial Services Inc. boosted its stake in AT&T Inc. (NYSE:T) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,414 shares of the technology company’s stock after purchasing an additional 2,979 shares during the quarter. AT&T comprises about 1.6% of Essex Financial Services Inc.’s investment portfolio, making the stock its 14th largest holding. Essex Financial Services Inc.’s holdings in AT&T were worth $6,323,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. New Capital Management LP boosted its position in AT&T by 130.9% during the third quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock valued at $104,000 after purchasing an additional 1,500 shares during the last quarter. Macroview Investment Management LLC boosted its position in AT&T by 144.3% during the third quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock valued at $106,000 after purchasing an additional 1,595 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in AT&T during the second quarter valued at approximately $134,000. CKW Financial Group boosted its position in AT&T by 83.9% during the second quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock valued at $144,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Israel Discount Bank of New York boosted its position in AT&T by 0.6% during the second quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after purchasing an additional 25 shares during the last quarter. 55.39% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on T shares. Robert W. Baird dropped their price objective on AT&T from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 25th. Oppenheimer restated a “hold” rating on shares of AT&T in a research note on Wednesday, October 25th. Deutsche Bank lowered their target price on AT&T from $41.00 to $38.00 and set a “hold” rating on the stock in a research note on Wednesday, October 25th. Zacks Investment Research lowered AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, SunTrust Banks reiterated a “hold” rating and set a $36.00 target price on shares of AT&T in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $41.92.
AT&T Inc. (T) traded down $0.19 during midday trading on Wednesday, hitting $36.41. The company had a trading volume of 24,724,420 shares, compared to its average volume of 34,310,000. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.60 and a current ratio of 0.97. AT&T Inc. has a 12 month low of $32.55 and a 12 month high of $42.70. The firm has a market cap of $223,520.00, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37.
AT&T (NYSE:T) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.13. The business had revenue of $41.68 billion during the quarter, compared to analyst estimates of $41.21 billion. AT&T had a return on equity of 14.55% and a net margin of 18.34%. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. equities research analysts anticipate that AT&T Inc. will post 3.48 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a dividend of $0.50 per share. This is a positive change from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend was Tuesday, January 9th. AT&T’s dividend payout ratio (DPR) is currently 123.46%.
In related news, EVP John T. Stankey sold 2,307 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $39.21, for a total value of $90,457.47. Following the completion of the sale, the executive vice president now directly owns 51,672 shares of the company’s stock, valued at approximately $2,026,059.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Donovan purchased 27,997 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $35.68 per share, with a total value of $998,932.96. Following the purchase, the chief executive officer now directly owns 179,834 shares in the company, valued at approximately $6,416,477.12. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.
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AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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